Enterprise Facilitation Scheme (EFS) provides financing for small and medium Entrepreneurs in Negara Brunei Darussalam in support of the government’s drive to speed up the process of industrial development in Negara Brunei Darussalam.

Microcredit Financing Scheme (MFS) provides opportunities to small and medium enterprises in support of the growth of the small/micro socio-economy and to provide employment opportunities in Negara Brunei Darussalam.

Relevant Sectors

Enterprise Facilitation Scheme (EFS)

• Agriculture
• Fisheries
• Manufacturing
• Tourism

Microcredit Financing Scheme (MFS)

• Production (includes Agriculture, Fisheries, and Forestry)
• Workshops (i.e. cars, air-conditioning, etc)
• Computer and telecommunication
• Beauty saloon/ barber
• Restaurant, catering, hawkers
• Cottage industries
• Tuition school
• Day care centre
• Tourism services
• Retail/ market
• Professional services
• Repair shop sevices (i.e. electrical, plumbing, etc)
• Other services that provide business opportunities and employment.

Financing Limit
EFS - maximum financing B$1.5 million
MFS - the financing limit for each entreoreneurs is B$30,000

Repayment Period
EFS - 7 years maximum period of repayment
MFS - 4 years maximum period of repayment

Profit Rate
The profit rate of each scheme will be 4% per annum or annual reducing balance depending on the facilities granted.

Financing Facility

• Al-Bai-Bithaman Aajil Term financing
• Al-Bai-Bithaman Aajil Naqad financing
• Al-Ijarah Thumma Al-Bai (AITAB) financing
• Al-Murabahah Letters of Credit/ Trust Receipt
• Al-Kafalah Banker’s guarantee
• BBA Demand Financing
• BBA Demand Line Financing

Purpose of Financing

• Company’s working capital
• Purchase of equipments
• Contract financing
• Project financing

Criteria of Eligibility
The enterprise must be categorized as SME that is:

• Company’s fixed assets of $5million book value or less
• Company who has 100 employees or less

Enterprise Facilitation Scheme:

• Company must be registered with the Register of companies and Business Names either as a Sole-Proprietorship, Partnership, Private Limited Company (Sendirian Berhad),Public Limited Company (Berhad) or Cooperative.
• Company should have at least 30% of its equity owned by Rakyat Melayu of His Majesty Paduka Seri Baginda Sultan dan Yang Di Pertuan Negara Brunei Darussalam. (“Rakyat Melayu” defined as both 7 indigenous groups and registered Malay citizen)
• Company must be undertaking a business or producing promoted products in the Agriculture Sector and Fisheries Sector (production, processing and marketing), Manufacturing Sector, Tourism Sector and the marketing of such products as per stated above.

Criteria of Eligibility (cont)

• The company or the owner must be clean from blacklist.
• Any project or business must be Syari’ah compliance.
• Priorities will be given to companies undertaking business on industrial sites or agricultural development sites, processing capture fishing and fish breeding license or permits as wellas tourism licenses and having production line or processing activities in Negara Brunei Darussalam.
• Priorities are also given to entrepreneur who has undergone relevant business management training recognized by the MIPR and/or the Bank.

Microcredit Facilitation Scheme:

• Company must be registered with the Register of companies and Business Names either as a Sole-Proprietorship,Partnership, Private Limited Company (Sendirian Berhad) or Cooperative and operated within Brunei Darussalam.
• Company must be owned 100% by Rakyat Melayu of His Majesty Paduka Seri Baginda Sultan dan Yang Di Pertuan Negara Brunei Darussalam.
• Existing small / micro entrepreneurs wishing to expand and diversify their business.
• The owner and the company must not be blacklisted.
• Any project or business must be Syariah compliance.
• Priorities are given to new entrepreneurs as follows:
  • University graduate
  • Technical institutions graduate
  • Participant from Pusat Bimbingan Belia
  • Participant from Handicraft Centre
  • Future pensioners and retirees

Security

• Land property
• Fixed deposit
• Banker’s guarantee
• Personal guarantor
• Charge over investment deposit account
• Charge on fixed assests
• Takaful BIBD financing plan

Grace Period

A suitable grace period for the repayment of the principal amount can be considered as long as the cost incurred during that period (monthly profit on the financing) is paid

Required Documentation

• Completed application form
• Project proposal and business plan
• Certificate of Registration (Section 16 & 17)
• Memorandum and Article of Association
• Return on Allotment of Shares and Board Resolution
• Copy of Identity Card of Applicant / Directors/ Shareholders/Guarantor(s)
• Photocopy of latest payslip and latest Bank Passbook of guarantor(s) (if applicable)
• Projected cash flow and profit & loss account
• Audited account
• Bank statement of existing accounts for the last three months
• Approvals from relevant authority for any business activity,building construction, location proposed etc.
• Security documents
• Property valuation report and photocopy of land title (if applicable)
• Confirmation letter from MIPR:
  • Agriculture department
  • Fisheries department
  • Forestry department
  • BINA
  • Industrial promotion and tourism section

*Bank’s terms and conditions apply